Friday, December 4, 2009

Good news everyone, the job losses last month were so low that they were able to print all their names in the paper. So we would like to offer our condolences to Freddie Wallace of Dubuke, Harriet Sanderson of Portland, and Dick Jauron of Buffalo.

Just kidding, 11,000 people lost their jobs, which puts us into another one of those 'bad news is good news' type situations where a decrease in losses is a positive. But it is nice to see our economy move from shedding jobs at a "10 NFL stadiums full of people" clip to a "1 minor league hockey arena" area. Also, in a development that shows me how I don't understand how the unemployment numbers work, that 11k job loss actually resulted in the unemployment rate dropping to 10%. We're inching towards the employment levels of a 1st world country again!

In the strongest jobs report since the recession began, the government reported Friday that the nation’s employers had all but stopped shedding jobs in November, taking some of the pressure off of President Obama to come up with a jobs creation program....The government also significantly revised September and October numbers. September was adjusted to show a loss of 139,000 jobs instead of 219,000, and October 111,000 instead of 190,000....“We’re moving toward stability in the labor market and the end of the tremendous firing that has plagued America,” said Allen L. Sinai, the founder of Decision Economics, a research firm. “But it’s going to be bleak for years. While it is going to be better than what we’ve seen, it’s still going to be terrible.”

Allan Sinai everyone! That was an exquisite hope crushing. Still, I'm going to have to disagree with the article's observation that merely moving our employment numbers to "civil war torn eastern European/former Soviet satellite" levels probably isn't going to cause Barry to wipe the sweat off his brow and start plowing through that book off crossword puzzles he's been putting off. But, the news is slightly improving, with even the "I got my hours cut/I'm too discouraged to even look for work" epic misery numbers dropping from 17.5% to 17.2%.

So the possibility lies that in the next few months this economy might actually produce a job. It'll probably be a job as a human shield for Goldman-Sachs executives as they try to get to their luxury sedan without being hit by garbage or as a member of the Gruesome Suicide Clean-up Squad in one of our many economically depressed Midwestern cities, but it'll still be a job. So stay positive, in a month or so you could be that guy who takes a cabbage to the sternum to protect a well heeled Goldman executive from the indignity of contact with peasants and their peasant food. You'll be able to take that cabbage home to eat and you'll probably get to meet Matt Taibbi. Things are looking up for you.